COMMERCIAL CAPITAL
BANCORP, INC. RANKED IN TOP TEN FOR PERFORMANCE BY SNL FINANCIAL
Irvine, CA – June 9,
2003 – Commercial Capital Bancorp, Inc. (“CCBI” or the
“Company”), (NASDAQ: “CCBI”), announced today that,
according to the recently published SNL Financial’s Fifth Annual Thrift
Rankings, CCBI was ranked seventh in the U.S. among the 100 largest public
thrifts by asset size, based on financial performance for fiscal year 2002.
Overall financial performance was based on six weighted financial performance
criteria comprised of core return on average assets, core return on average
equity, three-year annual core cash earnings per share growth, efficiency ratio,
non performing assets to total assets and net charge offs to average loans.
Stephen H. Gordon, Chairman
and Chief Executive Officer stated, “The Company just went public in
December 2002, and to already be included among the 100 largest public thrifts,
while being recognized as one of the top ten financial performers of 2002,
represents a solid beginning.”
CCBI, headquartered in
Irvine, CA, is a multifaceted financial services company which provides
financial services to meet the needs of its client base, which include
income-property real estate investors, middle market commercial businesses, and
high net-worth individuals, families and professionals. At March 31, 2003, CCBI
had total assets of $1.2 billion, and Commercial Capital Bank, the
Company’s bank subsidiary, was the fastest growing banking organization in
California, based on percentage growth in total assets over the 36 months ended
March 31, 2003 (source: www.fdic.gov). The Bank has full service banking offices
located at the Company’s headquarters in Irvine, Rancho Santa Margarita,
Riverside, and loan origination offices in Sacramento, Corte Madera (Marin
County), Oakland, Burlingame, Woodland Hills, Los Angeles, Irvine, and San
Diego, CA, and plans to open a banking office in La Jolla, CA in September of
2003. Commercial Capital Mortgage, Inc., the Company’s mortgage banking
subsidiary, was the 4th largest multi-family lender in California during the 12
months ended December 31, 2002 and has originated over $2.2 billion in
multi-family and commercial real estate loans from its inception through March
31, 2003. ComCap Financial Services, Inc., the Company’s NASD registered
broker dealer, provides fixed income and mortgage-backed securities advisory and
brokerage services to corporations, high net-worth individuals and other
financial institutions.
This Press Release may
include forward-looking statements (related to each company’s plans,
beliefs and goals), which involve certain risks, and uncertainties that could
cause actual results to differ materially from those in the forward-looking
statements. Such risks and uncertainties include, but are not limited to, the
following factors: competitive pressure in the banking industry; changes in the
interest rate environment; the health of the economy, either nationally or
regionally; the deterioration of credit quality, which would cause an increase
in the provision for possible loan and lease losses; changes in the regulatory
environment; changes in business conditions, particularly in California real
estate; volatility of rate sensitive deposits; asset/liability matching risks
and liquidity risks; and changes in the securities markets. CCBI undertakes no
obligation to revise or publicly release any revision to these forward-looking
statements.
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